Preapring Your First Meeting With a Miami Home Mortgage Broker

Once you have been pre-approved and have decided on what home to purchase, you may want to begin the loan approval process. This process starts with an initial interview where you and your Miami mortgage lender discuss your different alternatives.

In the initial reunion, the mortgage lender will help you fill out a 1003 mortgage application form. To accelerate the mortgage process, you’ll need to bring a few documents that are needed for the approval of the Miami mortgage:

• A purchase contract for the home (if you have one)
• Your bank account numbers and the your bank’s address, along with checking and savings account statements for the last 3 months
• Pay stubs, W2 withholding forms, tax returns for two years, or other evidence of employment and earning proof
• Credit card bills for the past 3 billing periods, or canceled checks for rent or utility bill payments, to proof payment history and total amount of credit card debt
• Information on other regular debt such as car loans, student loans and retail credit cards
• Balance sheets and tax returns, in case you are self-employed
• Any gift letters, if you are using a gift from a parent or family member or other organization to pay for the down payment and closing costs. This letter has to indicate that the money is in fact a gift and will not need to be repaid.

By having those items when visiting your Miami mortgage broker, you will help accelerate the loan process.

In addition, you may have to give an appraisal fee which will cover the mandatory appraisal of the property you want to buy.

Once you attend your first meeting, you ought to have a response within 48 hours. In most instances, you may “forget” about the mortgage application process and keep on with your life while your Miami mortgage loan broker works hard at getting the loan for you.